RedHill Biopharma (NASDAQ:RDHL) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a research note issued to investors on Saturday. The brokerage issued a hold rating on the biotechnology company’s stock.

RedHill Biopharma Price Performance

Shares of NASDAQ RDHL remained flat at $0.45 during mid-day trading on Friday. 173,901 shares of the company traded hands, compared to its average volume of 350,921. RedHill Biopharma has a 12 month low of $0.26 and a 12 month high of $3.28. The business’s 50-day moving average price is $0.50 and its 200 day moving average price is $0.75.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in RedHill Biopharma stock. Sabby Management LLC acquired a new stake in shares of RedHill Biopharma Ltd. (NASDAQ:RDHL) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 635,006 shares of the biotechnology company’s stock, valued at approximately $324,000. RedHill Biopharma accounts for about 0.2% of Sabby Management LLC’s investment portfolio, making the stock its 17th biggest holding. Sabby Management LLC owned approximately 5.74% of RedHill Biopharma at the end of the most recent reporting period. 7.20% of the stock is owned by hedge funds and other institutional investors.

RedHill Biopharma Company Profile

RedHill Biopharma Ltd., a specialty biopharmaceutical company, primarily focuses on gastrointestinal and infectious diseases. The company promotes gastrointestinal drugs, including Movantik for opioid-induced constipation in adults with chronic non-cancer pain; Talicia for the treatment of Helicobacter pylori infection in adults; and Aemcolo for the treatment of travelers' diarrhea in adults.